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The Student Loan Crisis

If keeping up with the student loans is challenging you, don’t worry, you’re not alone. Student loan debt is currently a rising crisis in our country. In fact, over 40 million Americans now have student loan debt. What is more shocking is the amount that people owe. The current total amount of student loan debt in our country has climbed to 1.2 trillion, and the average amount owed is $29,000. However, there is god news. The Law Offices of Gilbert C. Schumm is serving clients in Hoffman Estates, Illinois and the greater Chicago area by offering legal counsel and providing options to manage debts.

Loan Forbearance

It’s a tough pill to swallow, but the reality in the United States today is that many Americans are struggling to keep up with their bills. Loans can feel relentless when we suffer unemployment, divorce, costly medical expenses, or any one of a myriad of other financial events. However, don’t break into a sweat just yet, because there are options available to help you manage your debts. One of these options is called loan forbearance, and if you are struggling to keep your head above water financially you may want to consider this option. Basically, loan forbearance (sometimes referred to as deferment) allows an individual to delay paying their loan.

Call Us Today

If you live in Hoffman Estates, Illinois and are having trouble paying your student loans, seek the help of a qualified professional. You may be entitled to forbearance, and you have nothing to lose by simply picking up the phone. The Law Offices of Gilbert C. Schumm wants to help you get back on your feet. Call us at 847-559-9109 or contact us online for a free initial consultation.